The price of the XRP token tumbled Thursday, a day after the Securities and Exchange Commission filed to appeal a 2023 court ruling that determined XRP is not considered a security when sold to retail investors on exchanges.
⚡XRP was last lower by more than 9% at 52 cents a coin, according to Coin Metrics.⚡
Ripple, the largest holder of XRP coins, scored a partial victory last summer after a three-year battle with the SEC. U.S. District Judge Analisa Torres handed down the decision, which was hailed as a landmark win for the crypto industry. Still, while XRP isn’t considered a security when sold to retail investors on exchanges, it is considered an unregistered security offering if sold to institutional investors.
Ripple declined to comment but referred to Wednesday evening posts on X by CEO Brad Garlinghouse and chief legal officer Stuart Alderoty.
Alderoty said the company is evaluating whether to file a cross appeal, and called the SEC’s decision to appeal “disappointing, but not surprising.” The SEC, under Chair Gary Gensler, has become notorious for its refusal to provide clear guidance for crypto businesses, instead opting to regulate by enforcement actions.
“XRP’s status as a non-security is the law of the land today - and that does not change even in the face of this misguided - and infuriating - appeal,” Garlinghouse said on X.
Earlier on Wednesday, Bitwise Asset Management, an issuer of ETFs tracking bitcoin (BITB) and ether (ETHW), submitted a registration filing for what would be the first XRP ETF – two days after registering an XRP trust product in Delaware. Grayscale, which also has bitcoin (GBTC) and ether (ETHE) ETFs, introduced a similar trust product in September.
XRP, which was created by the founders of Ripple, is the native token of the open source XRP Ledger, which Ripple uses in its cross-border payments business. It is the fifth-largest coin by market cap, excluding stablecoins Tether (USDT) and USD Coin (USDC).Elsewhere in the crypto market, bitcoin hovered above the flat line at $60,210.29, while ether fell more than 2% to $2,320.20. Crypto stocks Coinbase and MicroStrategy were lower by about 1% and 2%, respectively.
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Exploring Dogecoin and Shiba Inu price forecasts while showcasing WallitIQ's (WLTQ) presale's potential 20,000% surge for early investors.
The recent upsurge in meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) has raised the interest of crypto investors and traders who are looking for a chance to take advantage of the bull run opportunity by generating substantial returns from these digital assets.
The two popular meme coins, which are Dogecoin (DOGE) and Shiba Inu (SHIB), have seen a massive surge over recent years. Both coins, initially seen as jokes, have transformed into serious investment opportunities, with an increase of 27% and 14% in the past weeks for Shiba Inu (SHIB) and Dogecoin (DOGE), respectively, capturing the attention of analysts and traders alike.
Analysts are now forecasting bold price targets, including Dogecoin (DOGE), which could reach $40, and Shiba Inu, which could climb to $0.1. However, it’s not just established coins making waves; a new player, WallitIQ (WLTQ), is generating buzz with its upcoming presale.
🔥The WallitIQ (WLTQ) Presale is Set to Soar 20,000%🔥
The use case and benefits that a cryptocurrency offers its users primarily determine its value. This is exemplified by WallitIQ (WLTQ), which aims to become an unrivaled asset in the crypto space.
WallitIQ (WLTQ) is a next-generation cryptocurrency wallet powered by artificial intelligence technology. By utilizing the potential of blockchain technology, WallitIQ (WLTQ) offers users a range of benefits. It attends to the limitations of the traditional wallets by providing trustless transactions, customized trading strategies based on individual users’ needs and levels, and protection of investors’ and traders’ privacy.
WallitIQ (WLTQ) is making waves with its highly anticipated presale, which experts predict could soar by an incredible 20,000%. This potential growth far outpaces even the bullish projections for established meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), as mentioned earlier. The WallitIQ (WLTQ) presale presents a unique opportunity for early adopters to potentially reap significant rewards.
With analysts projecting such huge growth, many investors are eagerly participating in the presale to secure their position at the forefront of the next major advancement in decentralized wallets before the token hits major exchanges. By positioning yourself on the exclusive whitelist, you can maximize your returns in the volatile crypto market.
🔥Analyst Prediction Of Dogecoin (DOGE) Hitting $40 And Shiba Inu (SHIB) Reaching $0.1🔥
In a bold forecast that has stirred the cryptocurrency community, some prominent analysts have projected price targets for two of the most popular meme coins. Jason A. Williams, an American entrepreneur and investor, predicted Dogecoin (DOGE) could reach $40, while other analysts and fervent members of the SHIB meme coin community also suggest that Shiba Inu (SHIB) might hit $0.1, representing staggering increases from their current valuations.
Realistically, while this short-term rise for Shiba Inu (SHIB) is promising, it remains a long way from the widely discussed $0.1 target. Shiba Inu reaching $0.1 is highly unlikely. With a circulating supply of 589 trillion tokens, the token would need a market capitalization exceeding $58.9 trillion, an astronomical sum, far surpassing the combined market cap of all cryptocurrencies by roughly three times. To hit $0.1, Shiba Inu (SHIB) would need to see a 595,490% surge.
Much like Shiba Inu (SHIB), Dogcoin (DOGE) achieving its own prediction presents significant challenges. Dogecoin’s market cap would have to move to a very high, unprecedented level, requiring a hugeamount of investment to be poured into the coin to increase the market capitalization. While Dogecoin (DOGE) has experienced meteoric rises in the past, sustaining such growth remains improbable in the current market landscape.
🔥Conclusion: WallitIQ (WLTQ) Is Set to Soar 20,000%; Don’t Miss Out🔥
Dogecoin (DOGE) and Shiba Inu (SHIB) have achieved milestones in the past and generated considerable attention but show limited potential in the short term. Meanwhile, the spotlight shifts to WallitIQ (WLTQ). The WLTQ token presale is a unique opportunity to be part of a groundbreaking AI-powered crypto wallet revolution. With a projected 20,000% surge, time is crucial. Join the presale and secure your spot on the exclusive whitelist before it’s too late.
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